Monday, January 10, 2022

SPY opened with a strong move to the downside recovering in the afternoon. All indices in a channel. Market Forecast still moving down suggesting defensiveness. Healthcare and Technology closed higher.

 SPY Market Forecast 64.95 Bearish pointing down in the middle zone            
   0.62   PCALL - 10 day SMA (0.75 - 1.00)            
   139.24   SKEW (120 - 140)              
                   
INTERMEDIATE TERM: Sideways- Price in between 30 &10 Wk SMA             
  6-months UP                
  10-days DOWN                
  3-days DOWN                
                   
Indices                   
UP:     QQQ +0.07% ;               
Down:        SPY -0.12% ; IWM -0.35% ; DIA -0.42%       
                   
  TLT +0.25% at 142.61              
  VIX +3.41% at 19.4              
                   
SPY   : Channel   below 30ds SMA            
QQQ   : Channel   below 30ds SMA            
DIA   : Channel   above 30ds SMA            
IWM   : Channel   below 30ds SMA            
                   
                   
Sectors                   
  2 sectors closed higher led by  XLV +1.03%  and  XLK +0.02%    Lower =  9      
  6            closing above 30d. SMA  and 5   closing below.
                   
XLV leaders     :    HUM, HOLX, BMY              
XLK leaders     :    INTC, FTNT, STX              
XLE leaders     :    PSX, HFC, KMI, NOV             
                   
Uptrend XLE, XLF, XLRE, XLU, XLP, XLB, XLI               
Sideways XLV, XLK, XLY                
Downtrend XLC                 
                   
                   
Breath:                   
NYSE Weakened  as  Decliners led  1193   to   2113 and  Nasdaq   Weakened   as  Decliners led 1544   to   3065   
                   
                   
NDX Leaders:                    
53 closing higher  and  48 closing Lower             
MRNA : +9.28% ;  INTC : +3.31% ;  SPLK : +3.08%         
                   
DJIA Leaders:                    
13 closing higher  and  17 closing Lower             
INTC : +3.31% ;  MRK : +2.58% ;  UNH : +1.40%         
                   
SP500 Leaders:                    
179 closing higher  and  320 closing Lower             
MRNA : +9.28% ;  HUM : +6.06% ;  HOLX : +4.47%         
                   
NASDAQ 100                  
                   
Nasdaq Above 30MA    =  28                
INTC, SPLK, TSLA, AMGN, GILD, CSCO, XEL, VRTX, CMCSA, KLAC, EXC, PEP, KDP, KHC, WBA, AEP, BKNG, MU, LCID, BIDU, MDLZ, CTSH, FISV, HON, PCAR, MNST, ATVI, MAR   
                   
Stocks to watch on  Tuesday                
                   
 Nasdaq100  xsing above30   = 4               
  SPLK, TSLA, BIIB, GILD                
                   
 Nasdaq100  xsing below30  = 7               
  ORLY, FB, PAYX, EA, ADP, EBAY, DLTR               
                   
                   
MACD Crossover:                 
Up   0                
                   
                   
Down   6                
EXC, SWKS, BKNG, MDLZ, PYPL, CSX                
                   

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SPY touched all times high once again and reversed at close

SPY Market Forecast     94.34 Defensive pointing down in the upper zone                        0.6   PCALL - 10 day SMA (0.75 - 1.00)       ...